The UK is at a heightened risk of recession, economists have warned, after the latest purchasing managers index (PMI) showed a the private sector contracted faster than expected this month, with the worst economic performance since the covid lockdowns of early 2021.
Companies are also downsizing their workforces at the fastest rate since 2009, apart from the extraordinary months of pandemic lockdowns.
The PMI - seen by economists as one of the key predictors of economic activity - works by assigning a score to a sector, with any score below 50 being thought to show contraction. The further away from 50, the faster the contraction.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Liverpool City Council sets out four-year improvement planLiverpool City Council has been on an 'improvement journey' since breakdown in governance in 2021.
Read more »
- Classic Desert Island Discs - Sophia LorenLauren Laverne talks to Italian actress Sophia Loren in a programme from 2021.
Read more »
Man who stabbed grandparents to death after 'hearing voice' to stay in hospitalTobyn Salvatore attacked Denis and Mary Fell at their home on Boxing Day in 2021.
Read more »
Brewers clinch 2023 playoff berth with rout of MarlinsThis marks Milwaukee's fifth playoff berth in six seasons and first since 2021.
Read more »
Mohammed bin Salman: Saudi Crown Prince says he does not care about accusations of sportswashingSaudis sovereign wealth fund - the PIF - bought an 80 per cent stake in Newcastle in 2021; PIF was seriously considering buying Manchester United before taking over their Premier League rivals; Saudi Arabia has spent almost £5bn on sports since the start of 2021, says The Guardian
Read more »